What is Sourcing Profits?
Sourcing Profits is a very rare course. It’s a product creation and sourcing course created by Paul Sinclair and Gauher Chaudhry. Paul used to be a partner with Matt Clark and Jason Katzenback before Amazing Selling Machine was even created and they brainstormed on a weekly basis. It’s interesting to note that Paul was making more than Matt & Jason then. Gauher, on the other hand, is a veteran internet marketer and a well-known paid traffic exporter. They have combined their uncanny skills together and created a truly “one of a kind” Amazon and e-commerce program.
This course could be something that is crucial to your Amazon business. If you’re already selling on Amazon and having a hard time finding the right suppliers, this may be for you. When you chose an expert to learn from, you want to choose somebody who is doing what they preach. Paul has sold over 10M over the last few years selling on Amazon. He was a guest speaker for ASM1 & 2, and one of the most successful Amazon marketers today. He is sharing EVERYTHING he knows about how to find a product opportunity, find a supplier, and promote your product.
One of the biggest stumbling blocks that people face when they try to get into e-commerce is sourcing products effectively. The issue with drop shipping is that many predators are entering your field. So when many other people are doing drop shipping or light sales, your profit margin falls exponentially. This is a widespread problem on Amazon and eBay. If you have any intention of selling on Amazon or eBay, just know that it can become quite difficult when other players enter the market and start to drop their prices. Now you can overcome this issue with private labeling, but again, if you want to maximize your profits, you need to know how to outsource effectively, because the quality of your products will make a huge difference in the bottom line.
A lot of people have struggled to “outsource from China”, especially because places like Alibaba and Aliexpress have a lot of scrupulous sellers who have no interest in giving you a quality experience or establishing a long-term relationship. Instead, they are interested in becoming that middle man who can make quick cash and move on to the next client.
Sourcing Profits Modules
Because of the dangers associated with outsourcing from China, the creators of Sourcing Profits have decided to help you gain an edge over your competitors. Using 5 unique modules, they teach you how to avoid common outsourcing pitfalls and become successful in your business. Here are the modules:
Finding the Right Product to Outsource
This module is basically about finding a product to outsource, and more specifically choosing a product that will bring you profit. The creators of Sourcing Profit show you how to get multiple suppliers for your business. Therefore you won’t have to go from supplier to supplier to get quotes, but instead let suppliers bet for your business and compete with each other.
In this module you will also learn that it is not such a great idea to outsource a product from China. There are some types of products you should never outsource from overseas due to certain trademark or liability issues. China is known to product lower quality products that are not good for the US market or other western markets. Hence, it is critical to know which types of products to avoid and which types of products to go for.
Another thing you will learn in this module is finding quality sourcing agents. These individuals can really pay for themselves because they effectively do a lot of the leg work for you. They can save you huge money in the long run and easily negotiate low prices. Finding these agents might prove to be quite a daunting task, so you need to find out where to look and what to ask.
Finding a Factory
The second module is all about finding a factory that you can get extremely good deals from. Basically, you want to cut down distributors and salespeople and get your product directly from the factory, which is the absolute cheapest price you can get. However, factories have very high quality standards and have different types of reputations. Some factories may look really good and quite reputable, but in fact they are not that good at producing consistent goods that have the right quality for your needs.
In this case, Paul and Gauher show you the 15 right things to ask a factory in order to discover if this is going to be a reliable factory to produce your goods. They will also show you six different ways to negotiate with a factory. Finally, they will show you how to review your invoices and what to look for in these invoices to protect yourself, especially because factories can sometimes be sloppy in their invoices and put certain causes and terms which can work to your disadvantage if you don’t know what to look for.
All of this knowledge you get after reading a Sourcing Profits review gives you an unfair advantage over your competition and helps you gain trust and authority in the eyes of the factories you are working with. In China, it’s all about earning respect. If you earn their respect and show that you are a seasoned veteran in this game, Chinese manufacturers will automatically want to serve you better.
Product & Packaging Design
The first thing you will learn in these modules is that you must never let the manufacturer design your package. The reason is simple – they do not have the required experience to do that. Additionally, they don’t have an interest in packaging your product at a high level.
In these modules of Sourcing Profits you will learn how to design your package step by step, from both a technological and design point of view. The outcome is a package that stands out of the crowd and is personalized according to your own tastes. You also learn how to get your package done in a very cost effective way, and how to make the most out of the packaging tools you have in order to appear as a premium brand. Obviously, if you appear as a premium brand, you will also be able to charge premium prices and make bigger profits.
Logistics & Shipping
In this last module you will discover the most common pitfalls you have to avoid in order to survive and thrive in your business. You got your product now, you got the merchandising, the quality control has been done, you’ve got your packing up and ready. However, this is where a lot of things can go wrong. Basically, you need to learn how to set up a payment system so that your suppliers can get paid on time and are happy, and they in turn can ship out your products on time.
You will learn about the air vs sea options – when to get your products by air and when to get them by sea. You will also discover what the different dynamics are when it comes to shipping by air or shipping by sea. Lastly, you will dive deep into Amazon’s FBA program and discover how to maximize your results with the FBA program.